Ferrari auctioned off the very first F12 Berlinetta over the weekend for $1.125 million – almost four times the list price of $315,888. The proceeds went to the American Red Cross to help communities affected by Superstorm Sandy.

Larry Roth, a philanthropist based on Long Island, bought the car at the Formula One Grand Prix in Austin, Texas over the weekend. (Read more: For Now, Rich Sit on Wallets in Sandy's Wake)

The F12 is the most powerful production Ferrari ever sold, with a V12 engine that helps the car reach a top speed of 211 mph.

Combined with contributions from dealers, clients and “friends” of Ferrari, the sale of the Berlinetta put the amount Ferrari, a division of Fiat, has raised for Sandy charities at more than $1.5 million.

Roth, who lives in Great Neck, NY, made his fortune from starting an eye-glasses business, which he sold in 2008. He said that he already owns two Ferraris – a 599 GTO and a 2013 458 Spyder he received a month ago.

He said he didn’t plan on getting another Ferrari, but had already planned to attend the Formula One race in Texas. When he found out that the Ferrari sale was benefitting Sandy victims, he felt he had to bid.

“I had no intentions of purchasing another Ferrari,” he said. “But I had so many friends and people I knew who were impacted, I thought this was a great way to help.”

He said that he originally planned to bid no more than $1 million, "but when I got in the auction, my wife and I decided we would bid whatever it took to win.”

Roth gets an added benefit with his gift. While other buyers of the F12 Berlinetta will have to wait two years for their cars, Roth will get his in the second quarter of 2013.

By Lisa Richwine LOS ANGELES (Reuters) - President-elect Donald Trump will remain an executive producer on the reality TV show "Celebrity Apprentice," new host Arnold Schwarzenegger said on Friday, defending the situation as similar to his own … More »

By Diane Bartz WASHINGTON (Reuters) - Aetna Inc's chief executive denied on Friday that its withdrawal from some Obamacare exchanges was in retaliation for government efforts to halt its merger with Humana Inc , as he sought to convince a federal … More »

Google and the Cuban government have struck a deal giving Cubans faster access to the internet giant's content, two people familiar with the agreement said Friday. Eric Schmidt, chairman of Google's parent company, will formally sign the deal … More »

By David Lawder WASHINGTON (Reuters) - President-elect Donald Trump is stacking his trade transition team with veterans of the U.S. steel industry's battles with China, signaling a potentially more aggressive approach to U.S. complaints of unfair … More »

By Lawrence Delevingne NEW YORK (Reuters) - The Beechwood group of reinsurance companies is in talks to sell most or all of itself after a backlash from some clients due to its relationship with troubled hedge fund manager Platinum Partners, … More »

Twenty-First Century Fox Inc's plan to buy the remaining stake in Sky Plc further insulates the Murdoch family-owned media company from a U.S. television advertising market roiled by sagging ratings, experts said. In a highly-anticipated move, … More »

By Jessica Toonkel, Kate Holton and Pamela Barbaglia NEW YORK/LONDON (Reuters) - Rupert Murdoch's Twenty-First Century Fox Inc has struck a preliminary deal to buy the 61 percent of British pay-TV firm Sky Plc it does not already own for around … More »

Major New York stock indexes hit a second consecutive day of record highs while the Toronto stock market continued its six-day rise, continuing a post-U.S. election rally. On Wall Street, the Dow Jones industrial average recorded its third … More »

By Devika Krishna Kumar NEW YORK (Reuters) - Oil prices rose about 1 percent on Friday on hopes that non-OPEC producers meeting in Vienna over the weekend would agree to output restrictions following limits OPEC announced last week to curb an oil … More »

The 10-year yield on the AP Municipal Bond index was 2.665 per cent , as of 5 p.m. Eastern time Friday. Bond yields and prices move in opposite directions, and prices may have climbed this past week as investors questioned whether the earlier … More »

NEW YORK — U.S. stocks rose for the sixth day in a row Friday as major indexes continued to set records. The biggest gains went to companies that have been mostly left out of the post-election rally, including health care companies and makers of … More »

By Sinead Carew NEW YORK (Reuters) - U.S. stocks closed higher on Friday as more investors piled in on the presidential election rally while the euro continued to weaken after the European Central Bank’s decision a day earlier to extend economic … More »

By David Ljunggren OTTAWA (Reuters) - The Canadian government on Friday tried to negotiate a first-ever national carbon price with the country's 10 provinces, two of which appear increasingly unhappy about the potential financial price. Liberal … More »

Digital advertising will continue to outstrip other media forms this year and next when it comes to bringing in ad dollars, according to a new forecast from media buying company GroupM. Internet advertising is projected to the grow by 18 per cent … More »

Also On Yahoo

Quotes are real-time for NASDAQ, NYSE, and NYSEAmex when available. See also delay times for other exchanges. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.